Alphabet (GOOGL) revenue increased in Q3 2026 by 24.6% y/y to 127.58 billion USD, while earnings per share (accounting) fell by 26.1% y/y to 2.12 USD.

Quarterly results#

Earnings per share (accounting, basic) was 2.14 USD (−25.9% y/y).

What management says#

According to management, using Gemini generates revenue from the model itself and drives growth in other parts of the cloud offering. Management emphasized that AI agents will become a reality, and the company wants to provide users with next-generation agents. According to management, AI agents represent an opportunity for the search engine to expand the range of problems solved for users. Management noted that the allocation of computing power is a long-term process requiring advance planning. The company treats TPU systems as an important platform that is intended to compete in the market for customers with the most demanding tasks. Management also explained that the TPU system is not just the chip itself, but an entire system including hardware, computing power, storage, and networking.